Ethereum will continue to outperform Bitcoin in 2021 and will, ultimately, exceed its rival鈥檚 value, predicts the CEO of one of the world鈥檚 largest independent financial advisory, asset manager and fintech organisations.
The prediction from Nigel Green, chief executive and founder of deVere Group which launched the pioneering app deVere Crypto in 2018, comes after a mixed few days for Bitcoin, currently the world鈥檚 largest cryptocurrency by market capitalisation.
Mr Green comments: 鈥淓thereum (ETH) is outperforming Bitcoin (BTC) and it can be expected to continue this trend for the rest of 2021.
鈥淓ther is up around 240% this year, while Bitcoin is up less than 38%. In fact, it has outperformed all other benchmark assets in the first half of this year.鈥�
The deVere boss attributes two key factors that are driving Ethereum鈥檚 outperformance run.
鈥淔irst, Ether has a higher level of real-use potential as Ethereum, the platform on which it is the native cryptocurrency, is the most in-demand development platform for smart contracts, thereby highlighting that network鈥檚 value not only as a platform for developers but as a worldwide financial utility,鈥� he says.
More from cryptocurrencies
- Binance Vs Coinbase
- Arbitrum (ARB) Partnerships: Who is Working with the Project?
- What will happen to dogecoin after Elon Musk acquires Twitter?
- Will Blockchains and iTokens Overtake iGaming?
- The Game Changer in Fintech – Weld Money Performs a Revolution in Crypto Payments!
- Coinbase Versus Bitcoin Motion: What鈥檚 Better?
- Why Is Financial Literacy A Must When Trading Crypto?
- Crypto Gambling: How to Start
鈥淪econd, investor enthusiasm for the game-changing transition to ETH 2.0, which makes the Ethereum network considerably more scalable, sustainable and secure. These upgrades represent a major boost not just for Ethereum but for blockchain technology itself.鈥�
He continues: 鈥淓thereum聽is more useful than Bitcoin and has tech advantages over its better-known rival.
鈥淯ltimately, this will mean that its value will exceed that of Bitcoin 鈥� probably within five years.
鈥淭hat said, I remain confident that Bitcoin will hit, or even surpass, its mid-April all-time high of $65,000 by the end of 2021.鈥�
The deVere boss is one of the highest-profile, longest-standing crypto bulls.聽 Last month he was quoted in the media as saying 鈥渃rypto is the inevitable future.鈥�
The bold predictions followed a live virtual event at which Tesla and Space X founder Elon Musk, Twitter founder Jack Dorsey, and Ark Investment鈥檚 Cathie Wood all advocated for the digital assets and talked about their massive future potential.
Nigel Green concludes: 鈥淭here will be peaks and troughs along the way of course, but Ethereum鈥檚 ascent to the top of the cryptoverse seems unstoppable.鈥�
